Preparing Your Business for Returns and Exchanges

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Among the many issues that a business owner has to pour over, one of the most important is handling returns and exchanges. That can determine how trustworthy your brand is to consumers and can even be an avenue for creating repeat customers and positive feedback if handled well. Many small businesses opt for a reverse logistics program to keep things easily monitored, processed, and automated. Doing this removes a lot of the risks and trouble that may otherwise crop up when faced with customers aiming to return some goods. It’s best to be prepared and know what factors to keep in mind when responding to this.

Provide transparent and hassle-free returns options for online shoppers.

Online shoppers often look for information on a seller’s return and exchange policy when browsing for products, ultimately choosing the one that has a more hassle-free process. That is not only a matter of convenience as it is essentially an initial gauge of a business’s trustworthiness from the buyer’s perspective. Having understandable and reliable options builds trust in prospective consumers and can encourage those scrolling through to check out.

A little over a fourth of shoppers would even opt for a pricier item with free return shipping over a cheaper alternative that doesn’t offer the same. On top of that, 92% of consumers would buy from a brand again if they offer easy returns. It builds confidence in new visitors and helps build loyalty from the get-go.

online shoppers

Make use of systems to prevent fraudulent returns.

Unfortunately, some individuals purposefully try to commit fraud on companies by way of returning items to get a sizable cashback. Even those who don’t have malicious intent can often seek out returns simply because of mistaken perceptions. For example, they might think they received a broken or incorrect item when, in reality, they may have missed some instructions or skipped the description page. Either way, that can result in unnecessary losses on your part and can affect your inventory as well. Return fraud amounted to around $27 billion for the retail industry in 2019, affecting both major industry players and small businesses.

And even as return fraud has increased around 35% in a year, it’s also essential to implement systems that can adequately differentiate between legitimate returns and the fakes. Statistics show that some of the most frequent returns come from trustworthy repeat customers, too.

Be open to feedback and be responsive.

If you have your own website or page, make sure you keep a space open for feedback from your buyers, even the ones that end up asking to return their purchase. It is because it allows you to respond well for other customers to see and helps you leverage the power of reviews. After all, 84% of people trust online reviews to the same degree that they would hold a friend’s opinion. That’s why it’s vital to make use of this platform to showcase that you have proficient services and personable, reliable responses. It further builds trust with both existing customers and those scrolling through the reviews considering whether to purchase your products or services.

Following through on these suggestions can help you to develop your operations successfully and not get knocked down by the prospect of returns. Your business can have a better turnout if you can provide more suitable services and products.

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